Baku and Washington chart new business path US companies explore opportunities in Azerbaijan

The visit of Azerbaijani President Ilham Aliyev to Washington in August 2025 marked the starting point for expanding Azerbaijani-American business ties. Today, several steps are being taken in this direction, including the implementation of joint initiatives in energy, finance, and IT, as well as the expansion of business partnerships and trade.

An important step in this regard was the visit to Azerbaijan of a U.S. Chamber of Commerce delegation and representatives of 31 American companies, led by Khush Choksy, Senior Vice President, International Member Relations & Senior Vice President, Middle East & Türkiye. During the meeting with President Ilham Aliyev, the sides discussed prospects for business partnerships across various sectors of the economy.

Among the most significant events of the past year, particular attention should be given to a historic breakthrough in Azerbaijani-American relations: during a ceremony at the White House in August with the participation of President Donald Trump, the enforcement of Section 907—which had long hindered the development of bilateral relations—was suspended, and support was expressed for the development of the Zangezur Corridor within the framework of the agreement to create the "Trump Route for International Peace and Prosperity" (TRIPP).

At the same time, a document was signed to establish a special working group between the United States and Azerbaijan, tasked with developing the “Charter on Strategic Partnership.” Notably, on February 10, a ceremony took place in Baku to sign the “Charter on Strategic Partnership between the Government of the Republic of Azerbaijan and the Government of the United States of America.” The document was signed by Azerbaijani President Ilham Aliyev and U.S. Vice President J.D. Vance.

Since October of last year, four official Azerbaijani delegations, including ministers and private-sector representatives, have visited the United States. During these meetings, discussions focused on mutual investment and the expansion of trade and economic ties, the development of cooperation in the transport and logistics sector—including within the framework of the Middle Corridor—and the promotion of defence-industrial partnership.

The energy sector remains a key area of cooperation. In particular, the State Oil Company of Azerbaijan (SOCAR), in partnership with U.S. company ExxonMobil, plans to participate in the development of a major hydrocarbon field in the country. At the same time, prospects are being explored for ExxonMobil’s involvement in projects to develop renewable energy potential in Azerbaijan. The American partner is also interested in areas such as methane emissions reduction, operational cost optimisation, and the implementation of modern technologies to increase oil and gas production.

Over the past quarter-century, American construction companies and hotel chains, as well as manufacturers of passenger and cargo aircraft, have collaborated very productively with Azerbaijan, and this sector continues to offer broad opportunities for U.S. investors. Equally promising is partnership in the financial sector, including with companies specialising in alternative investment management. In this regard, a pool of North American companies is already being formed, ready to expand cooperation with the State Oil Fund of Azerbaijan (SOFAZ). To jointly finance strategic projects, it has also been proposed to establish a joint Azerbaijani-American investment platform, with work already underway in cooperation with the U.S. Export-Import Bank (US EXIM Bank).

Baku and Washington are focused on organising reciprocal visits of business delegations in a B2B format, including attracting American vendors and chipmakers, software developers, and experts in artificial intelligence and cybersecurity to Azerbaijan, as well as implementing joint projects to build data centres.

For many years, leading U.S. vendors have participated in Azerbaijan’s domestic telecommunications and IT market as contractors, integrators, and equipment suppliers, while also expanding access to high-speed satellite internet services. The American payment system Mastercard and operators of banking networks have been involved in projects to digitise the national financial sector, particularly in the development of a cashless infrastructure. These areas remain priorities; however, today, Azerbaijan is primarily interested in cooperation with American vendors and chipmakers, developers of artificial intelligence (AI) solutions, digital infrastructure, and cybersecurity know-how. Accordingly, the Azerbaijani-American business agenda is set to focus primarily on collaboration with the IT sector and suppliers of digital technologies.

An important step to accelerate the implementation of these initiatives was the visit that began on February 9 by a U.S. Chamber of Commerce delegation and leaders of 31 major American companies to Azerbaijan. The delegation includes global corporations such as Apple, Ardea Energy Technologies Inc., Ericsson AB, ExxonMobil, Herbalife, Illumina, Meta, Visa, Wabtec, Baker Hughes, bp, Boeing Global, Honeywell, J.P. Morgan, Lummus Technology, Marriott, Mastercard, Shell International, Azerbaijan Coca-Cola Bottlers LLC, and Motorola Solutions.

“As you know, we are now entering a new phase of bilateral ties, which is very promising and very active. Of course, your visit ahead of the visit of the Vice President is also of great importance, because part of our interaction is focused on business, investments, trade relations, and many other areas, which are part of our strategic agenda,” said Azerbaijani President Ilham Aliyev during a meeting with Khush Choksy, Vice President of the U.S. Chamber of Commerce for International Affairs, the Middle East, and Türkiye.

The head of state emphasised the advantages of Azerbaijan’s geographic location at the crossroads of East and West. To harness this potential, the country has developed comprehensive infrastructure, including oil and gas pipelines, railways, and power transmission lines. Azerbaijan is fully self-sufficient in oil, gas, petroleum products, petrochemical goods, and electricity, while also exporting all of these resources. Today, natural gas is delivered via pipelines to sixteen countries worldwide, positioning Azerbaijan as the leader in terms of the geographical reach of its energy exports.

At the same time, with natural gas reserves sufficient for at least a hundred years—not only for domestic consumption but also for export—Azerbaijan is investing its own funds and actively attracting foreign investment in the development of renewable energy sources (RES).

“[...] one of the most important issues is that we have a lot of electric energy which we do not use, do not consume, and have not exported so far. Currently, about two gigawatts of power generation are available,” said Azerbaijani President Ilham Aliyev.

“[...] by 2032, based on the signed contracts—not MOUs—we will have an additional seven to eight gigawatts of solar and wind energy. All of this will be available for domestic consumption, supporting a growing economy, expanding industry, and our goal of becoming one of the global hubs for AI and data centers,” the head of state emphasised.

The President also noted that one of the projects currently underway is the construction of new power transmission lines—from Azerbaijan to Europe via a subsea cable across the Black Sea, in addition to existing infrastructure—as well as within the framework of the TRIPP project initiated by President Donald Trump.

In this context, transport and energy connectivity have been identified as key areas of national policy. In these sectors, Azerbaijani-American cooperation is seen as particularly promising and mutually beneficial.

The head of state also emphasised that, alongside traditional areas of engagement—energy, trade, and investment—Azerbaijan and the United States are now collaborating in new strategically important areas, including digital transformation, artificial intelligence, telecommunications, and the creation of data centres.

This mutual interest in cooperation is reflected in the broad composition of the U.S. Chamber of Commerce delegation.

"We have 60 representatives from 31 companies… It [the delegation] includes energy, technology, food and beverages, as well as mobility and transportation,” said Khush Choksy, during his meeting with President Ilham Aliyev. He emphasised that interest in Azerbaijan has significantly increased following the UN climate conference, COP29. According to him, the U.S. Chamber of Commerce is the country’s largest business association and operates worldwide, while the South Caucasus and Central Asia represent a developing region of significant interest for American companies.

In a meeting with local media, the Senior Vice President noted that Azerbaijan has developed infrastructure and substantial potential for further economic growth.

“Azerbaijan is located at the crossroads of East and West and can serve as a connecting link not only in the energy sector—especially given Europe’s needs—but also in transport, logistics, and manufacturing,” he stressed.

He added that one of Azerbaijan’s key advantages lies in its diverse development opportunities, which are particularly evident in the tourism sector: a growing number of visitors, ski resorts, developed infrastructure, and Baku’s rich history. Unlocking this potential, he said, is one of the main goals of the U.S. Chamber of Commerce, which provides American companies with the opportunity to gain a closer understanding of Azerbaijani business, as well as the government’s existing opportunities and plans.